KUALA LUMPUR: Petronas Gas Bhd (PGB) posted a lower net profit of RM438.68 million in the first quarter ended March 31, 2026 (Q1’26), down from RM468.79 million in the corresponding period last year, in line with lower gross profit, coupled with lower profit generated from fund investments.
In a filing with Bursa Malaysia today, PGB said revenue for the quarter slipped 0.6% to RM1.58 billion from RM1.59 billion in the same period a year ago.
The group said the lower revenue was mainly attributable to lower revenue from the utilities segment due to lower product prices.
“This impact was cushioned by higher revenue from the gas transportation segment following upward tariff adjustment and increased contribution from the regasification segment arising from liquefied natural gas storage services at Pengerang, Johor, which commenced in August 2025,” it said.
PGB announced a first interim dividend of 16 sen per ordinary share amounting to RM316.6 million, payable on June 23.
On prospects, PGB expects to remain resilient in 2026, notwithstanding margin pressures, particularly in the utilities segment, due to higher fuel gas prices amid ongoing global geopolitical uncertainties.
It said contributions from the gas transport, regasification and gas processing segments are expected to continue providing earnings stability, underpinned by the regulated framework and stable long-term contracts.
“Nevertheless, PGB remains attentive to potential indirect impacts from geopolitical developments, including inflationary pressures and supply chain disruptions.
“PGB remains committed to strengthening operational resilience, commercial excellence and cost optimisation, while continuing to pursue long-term strategic growth to sustain earnings quality for all shareholders,” PGB added.
